Raising the debt ceiling is the worst possible solution. It can't possibly get worse than that. I'm starting to wonder if Obama has a brain of his own or if he just listens to his incredibly fucking stupid advisors. I can't wait till all the money's worth I have gets cut in half or a quarter. Let's just raise the debt ceiling and print out more money and spend more money! America, fuck yeah!
...You know that if the nation does undergo default, the USD will be worth far less than from minting? We're talking collapse of the Bretton Woods system here, and a second Great Depression. If Argentina undergoes default (which it has), it's bad but not really a problem because the IMF can bail them out and they're a regional economic center, not a global center. But a US default is a ticking time bomb, literally the collapse of the global economic system. Goodbye to our AAA credit status, goodbye to our ability to borrow from other countries, goodbye to government bonds actually worth something, and I can promise you this country will never again see an unemployment rate as good (yes, I did use the word 'good') as 10%. I think a little inflation is a better price to pay.
We've raised it 78 times since the 60's. What would make the 79th time so bad? But how many times have defaulted? 0. I'd rather raise it than see what happens if we don't raise it and pray that Tea baggers are right.
Defaulting is probably inevitable unless we want to keep raising the debt ceiling over and over and over until our money is worth nothing. The short term solution is obviously to raise the debt ceiling and just act like nothing is happening. We need to deal with this default now, plan for budgeting, and deal with the consequences of going bankrupt. Defaulting will not ruin our country like a lot of people think it will. What will ruin our country is putting off this default until our debt is insurmountable. How would you treat an individual who is bankrupt? Would you give them more of a debt ceiling and tell them to keep on living the life? That's just not how it works. The only way I see to get out of this mess is to raise the debt ceiling only if they also pass that budgeting amendment to secure our future. If we simply raise the debt ceiling we'll just run into this exact same scenario not too long in the future since our numbnuts president can't figure out how to spend our money wisely.
That's why congress won't allow the debt ceiling to be raised UNLESS if they can agree on conditions regarding what we do after it's raised. How good of a job they're doing that is obviously up for debate (but it does sound like something will get done in the nick of time) but at least they're trying. Because of this, we aren't raising it then just continuing with our lives like you're suggesting. We're going to make huge cuts among other things to try and begin to build our way out of debt. Now, if you ask me, we severely need tax increases and the fact that Republicans refuse to let that happen is downright crazy. But at least Democrats were smart enough to realize that getting Republicans to increase taxes is like getting Bill O'Reily to think that the moon causes the tides (lulz). You can't let your country default. As Obama put it, it would be extremely reckless.
Obama doesn't know what he's talking about. There's obviously still a lot of people that just want to raise the debt limit without budgeting or else a deal would have been made already. And the budgeting plans that have been brought to the table so far don't even cut any spending somehow. They still have us spending more than we're making. They need to raise the debt ceiling, pass the budgeting amendment that would be piggybacked on it, and get some smart people coming up with actual plans to cut spending. What Obama is allowing to happen now is what's incredibly reckless. He's making a lot of people frightened of their future for no reason. The country won't shut down even if we default. People will still be paid social security checks if we default. What Obama is doing is irresponsible and is so out of line.
That's just simply not true. Again, not true. What articles are your reading/news are you watching? If something gets passed it will be sure to have trillions of dollars in cuts. And a balanced budget amendment may also be added. How is wanting a compromise an illogical thing? That's what Obama wants. Blame congress for frightening people since they have trouble with compromising. And if you care about Social Security/Medicare at all, you don't want a default.
Obama has to come out against this Super Congress. It's pretty much completely unconstitutional and a direct violation of our judicial system. The fact that Reid is supporting this farce makes me disappointed not just in the Republicans, but the Democrats as well. We're not in an Orwellian novel here, this is America. Strike this fucking shit down.
Obama isn't guiltless, but the reason a budget deal hasn't been made yet is because our Congressmen are more concerned with getting re-elected than doing what's best for our country. It's pointless political grandstanding. Nothing more. Nothing less. The Republicans are full of shit, the Democrats are spineless and inept -- the same old story.
You know, we are in a recession. Drastic times come for drastic measures. Now if only taxes would be increased.
Yes, but the problem with that is what is being cut. And yes, we need higher taxes. I don't remember if I've mentioned this here (I'm the token liberal on both of my forums, so I forget who I've said what to ), but the last time our national tax rates were this low, World War II had been over for less than a decade. The keyword here is unsustainable. A modern nation living in today's globalized world cannot survive on a budget of yesteryear...nor can it go on very long with revenue levels of yesteryear. It's time to make a change.
It's a less than ideal deal for sure. This super congress shit isn't going to work. We couldn't make an actual compromise now, so what makes us think we'll do it better with the super congress? Obama's press secretary was sounding like it would be our savior.
I know, right? It's so damn frustrating. Especially when every poll shows that the majority of Americans want both to happen. You continuously see a bunch of clowns saying that nobody wants to pay higher taxes. Does it occur to them that people might be smart enough to realize that in an economic recession higher taxes are necessary? And of course, spending cuts need to be made too.
Higher taxes aren't necessary. More efficient spending is necessary. How about saving trillions of dollars by not having military bases all over the world? How about legalizing drugs and taxing them? How about planning budget cuts that actually cut the spending? http://www.randpaul2010.com/2011/08/open-letter-why-i-oppose-the-debt-ceiling-compromise/